McKenna, Reginald

McKenna, Reginald, 1863–1943, British politician and banker. Elected to Parliament as a Liberal in 1895, he entered the cabinet as president of the board of education in 1907. As first lord of the admiralty (1908–11), he increased the rate of battleship construction and thus helped to ensure Britain's naval supremacy at the outbreak (1914) of World War I. After serving as home secretary (1911–15), McKenna became chancellor of the exchequer in Herbert Asquith's coalition cabinet (1915–16) and imposed new income taxes and import duties. He resigned when David Lloyd George displaced Asquith as prime minister. Defeated in the 1918 election, he retired from politics. From 1919 until his death he was chairman of the Midland Bank.